Dimensional Fund Advisors LP Reduces Position in Tapestry, Inc. (NYSE:TPR)

Dimensional Fund Advisors LP lessened its holdings in shares of Tapestry, Inc. (NYSE:TPR - Free Report) by 12.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,040,124 shares of the luxury accessories retailer's stock after selling 420,047 shares during the quarter. Dimensional Fund Advisors LP owned 1.30% of Tapestry worth $198,626,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Norges Bank purchased a new stake in Tapestry in the 4th quarter worth approximately $114,199,000. WT Asset Management Ltd purchased a new stake in shares of Tapestry in the 4th quarter worth about $42,762,000. Raymond James Financial Inc. purchased a new stake in Tapestry in the fourth quarter worth about $38,180,000. Alliancebernstein L.P. increased its position in Tapestry by 15.2% during the 4th quarter. Alliancebernstein L.P. now owns 4,137,521 shares of the luxury accessories retailer's stock valued at $270,304,000 after buying an additional 546,497 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its holdings in shares of Tapestry by 767.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 464,478 shares of the luxury accessories retailer's stock valued at $30,344,000 after acquiring an additional 410,918 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Tapestry Stock Up 0.8 %

Shares of TPR traded up $0.52 during mid-day trading on Friday, hitting $68.82. The company's stock had a trading volume of 3,186,479 shares, compared to its average volume of 4,170,348. The company has a current ratio of 1.58, a quick ratio of 1.05 and a debt-to-equity ratio of 1.78. The firm has a market capitalization of $14.25 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 2.01 and a beta of 1.37. Tapestry, Inc. has a 52-week low of $35.23 and a 52-week high of $90.85. The company's 50-day moving average is $72.15 and its 200-day moving average is $65.85.

Tapestry (NYSE:TPR - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same period last year, the company earned $1.63 EPS. On average, equities research analysts forecast that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Thursday, March 6th were issued a $0.35 dividend. The ex-dividend date was Thursday, March 6th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.03%. Tapestry's dividend payout ratio is currently 40.58%.

Insiders Place Their Bets

In other Tapestry news, General Counsel David E. Howard sold 11,917 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $88.00, for a total value of $1,048,696.00. Following the completion of the transaction, the general counsel now directly owns 38,609 shares of the company's stock, valued at approximately $3,397,592. The trade was a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Todd Kahn sold 7,786 shares of Tapestry stock in a transaction on Friday, February 21st. The shares were sold at an average price of $87.59, for a total transaction of $681,975.74. Following the completion of the transaction, the chief executive officer now directly owns 201,531 shares of the company's stock, valued at $17,652,100.29. The trade was a 3.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,537 shares of company stock valued at $5,730,589. 1.18% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Barclays decreased their price objective on shares of Tapestry from $100.00 to $83.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Raymond James reaffirmed an "outperform" rating and issued a $88.00 target price (up previously from $79.00) on shares of Tapestry in a report on Friday, February 7th. Telsey Advisory Group lifted their price objective on shares of Tapestry from $74.00 to $83.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. lifted their target price on Tapestry from $88.00 to $104.00 and gave the stock an "overweight" rating in a report on Wednesday, February 12th. Finally, Wells Fargo & Company upped their price target on shares of Tapestry from $75.00 to $90.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Tapestry currently has an average rating of "Moderate Buy" and a consensus target price of $78.26.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women's handbags; and women's accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.